Perkins Coie Trust Co Trims Stake in International Business Machines Co. (NYSE:IBM)

Perkins Coie Trust Co reduced its position in shares of International Business Machines Co. (NYSE:IBM) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,082 shares of the technology company’s stock after selling 631 shares during the quarter. Perkins Coie Trust Co’s holdings in International Business Machines were worth $4,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Seven Eight Capital LP bought a new stake in International Business Machines during the 4th quarter valued at $476,000. Cresset Asset Management LLC boosted its position in International Business Machines by 0.8% during the 4th quarter. Cresset Asset Management LLC now owns 72,422 shares of the technology company’s stock valued at $11,845,000 after acquiring an additional 558 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in International Business Machines during the 4th quarter valued at $547,000. Northwest Wealth Management LLC bought a new stake in International Business Machines during the 4th quarter valued at $206,000. Finally, Ethic Inc. boosted its position in International Business Machines by 6.3% during the 4th quarter. Ethic Inc. now owns 126,504 shares of the technology company’s stock valued at $20,690,000 after acquiring an additional 7,479 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IBM has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Bernstein Bank raised their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Stifel Nicolaus raised their price objective on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets raised their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group raised their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $194.35.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $2.31 during trading on Wednesday, reaching $230.93. 469,269 shares of the company traded hands, compared to its average volume of 4,193,963. The firm’s fifty day simple moving average is $205.08 and its 200 day simple moving average is $186.69. The stock has a market cap of $212.13 billion, a P/E ratio of 25.89, a PEG ratio of 4.90 and a beta of 0.70. International Business Machines Co. has a 12-month low of $135.87 and a 12-month high of $231.08. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the business posted $2.18 EPS. The company’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.